5 Things I Wish Someone Told Me in my First Year of?Business

Let’s talk about the messy first year of running a business as a solo founder or solopreneur.

For me, I went on my own in 2021, when I started my business coaching and consulting business. (Before this, I created a tech-for-good edtech business with a whole team and some amazing cofounders.)

So, this was uncharted territory as a solo captain, and to be honest, it was weird.?

Being a solopreneur is a lot, a lot of work. It was the core team or me, myself, and I.

And now looking back, I wish someone had pulled me aside in this stage and shared with me these 5 insights:

Embrace the Unglamourous Side of Entrepreneurship

Being an entrepreneur is amazing. But in the world of Instagram and Tik Toks, there has been this slanted view that it can be uber glamourous--working as a digital nomad in Bali or getting a massage midday on a Monday.

But social media is just a highlight reel... it doesn't often show the 90% of business behind the scenes.

The unglamourous side of entrepreneurship, that majority is the grit that happens when no one is looking.

Embrace getting to the core fundamentals of your business, digging deep into your initial pipeline of sales, and learnings the ins and outs your accounts. Upskill on your margins, Cost of Goods Sold, and Customer Acquisition Cost.

Those numbers are far more glamourous than the likes.

Focus on the Foundations

Businesses are successful because they solve a core problem, and this problem is one that people will put their hard earned money to solve.

As a solopreneur, you need to have a deep understanding and empathy of the problem you are solving.

Get down to the core with something like an Empathy Map and always be speaking to your potential customers and users with focus groups, surveys, and interviews for constant insights.

Because if your foundations are unclear, then you will be wasting your time and energy in the long run--which as a one-man-band, we don't gave to waste.

Don't be Afraid of Experimenting

Starting out, I thought I had it all figured out: my core offerings, my pricings, and my target market, and I did not give myself enough room to experiment.

I think this stifled my growth, and I wish someone pulled me aside and encourage me to experiment on my offerings (and get insights at every step of the way!).

Just because you have done things one way--like delivering a workshop in person, live--does not me that this needs to be the way it is formatted forever.

So, put on that white coat, and do not hesitate to experiment.

Avoid Shiny Object Syndrome

When you are just starting out, you may be getting whiplash by the various tech tools, courses, books, masterminds, and so much more (really I could go on!) that are offered to newer entrepreneurs.

I know when I was starting out, the first Black Friday I bought so many tech tools and courses I thought I would need in the future, but really many of these just got pushed to the side by January rolled around.

As an entrepreneur, see what works for you and your processes, start out with free trials (or check out my ebook Start Your Business with Zero Money), and do not fall for the traps of the next shiny object.

Take inventory of your needs versus wants, and then you can make a smarter decision with both your time and money.

Find Your Place and Your People

Building a business as a solo founder is lonely -- I will not lie! Working at home also made it feel like I could not "switch off" because my office was also my kitchen table, and most of my friends and family didn't really 'get' what I was doing on a day-to-day basis. (Which we know as solopreneurs is everything!)

As a solo founder, you need "business friends." These are those people who get your struggles with copy writing or can give you feedback on your journey. It takes a community to understand what you’re going through day in and day out, so don’t be afraid to reach out to those individuals on LinkedIn, Instagram, Twitter, and start connecting, building your own little business community, or join an established one.

Having this network will really help you in the highs, and ultimately, the lows of the first year of business.

These are the five things I wish someone told me in that first year of business, but I would love to hear from you.

What advice would you have told yourself in those early days of business?

WHAT TO DO NEXT:

1. Listen or Watch the Everyday Entrepreneurship Podcast where we have spoken to incredible and REAL entrepreneurs like Joe Seddon of Zero Gravity.
2. Register for my Youtube Live this week, 5 Ways To Leverage Your Elevator Pitch for Visibility, and share it with a fellow founder or solopreneur!
3. Check out my signature group business development program, Findable & Fundable if you want to amplify your business's message and impact this Q1.